April 21, 2024

The Growing Adoption Of Minimally Invasive Surgeries Driving The India Surgical Gloves Market

The rising adoption of minimally invasive surgeries in India is driving the growth of the surgical gloves market. Surgical gloves are essential personal protective equipment used by medical professionals during surgical procedures to avoid the transmission of diseases and infections. They provide an effective barrier between the surgeon’s hands and patients, surgical instruments, and implants. Surgical gloves are available in different sizes as well as in sterile or non-sterile forms as per the required application. They protect surgeons and patients from various communicable diseases like hepatitis B & C, HIV/AIDS, and others. Moreover, growing awareness about health and hygiene as well as stringent government regulations regarding patient and staff safety have increased the demand for surgical gloves in India.

The global India Surgical Gloves Market is estimated to be valued at US$ 125.67 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

 Powder-free gloves are gaining traction as powdered gloves can cause irritation, latex protein sensitivity, and other complications. Also, powder particles left inside the surgical site during a procedure can increase the risk of post-operative adhesion and infection. Hence, major manufacturers are focusing on developing advanced powder-free gloves made from synthetic polymers like nitrile and vinyl that provide equal or better strength compared to powdered latex gloves. Moreover, the growing popularity of ambulatory surgical centers in India is another major trend as they are more affordable and convenient compared to hospitals. This is expected to surge the demand for surgical gloves during the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the India surgical gloves market is moderately low as it requires considerable investments and strict regulations in the healthcare industry to enter. However, established players leverage their brand name, distribution network and economies of scale which act as barriers.
Bargaining power of buyers: The bargaining power of buyers in the India surgical gloves market is high given the presence of many established players and substitutes. Buyers can negotiate on price and demand value-added services.
Bargaining power of suppliers: Suppliers of raw materials like latex and polyethylene have moderate bargaining power due to limited availability and fluctuations in raw material prices.

This can impact production costs.
Threat of new substitutes: The threat of substitutes in the India surgical gloves market is low as there are no close substitutes that can provide similar protection. However, alternatives like gowns act as substitutes to an extent.
Competitive rivalry: Being an essential commodity, firms compete on the basis of pricing, quality, innovations and expansion to local markets.

Key Takeaways

The Global India Surgical Gloves Market Size is expected to witness high growth over the forecast period of 2023-2030. The global India Surgical Gloves Market is estimated to be valued at US$ 125.67 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.

Regional analysis: Regionally, South India is estimated to dominate the India surgical gloves market holding around 35% of the overall market share in 2023. This is attributed to factors such as growing healthcare infrastructure, rapid economic development and presence of leading players in the region particularly in states of Tamil Nadu, Karnataka and Kerala. Additionally, increasing initiatives by governments in the region to promote usage of personal protective equipment such as surgical gloves is projected to propel the market growth over the forecast period.

Key players: Key players operating in the India surgical gloves market are Dow, Henkel, BASF, Nordson, LORD Corporation, H.B. Fuller, Siltech Corporation, Qualcomm, Broadcom, Skyworks Solutions, Qorvo. Among these, Dow, Henkel and BASF collectively account for over 30% of the overall India surgical gloves market share owing to their diverse product portfolio and widespread distribution network across the country.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it